The two foreign shareholders of Asia Joint Stock Commercial Bank (coded ACB) including Sather Gate Investments Limited and Whistler Investments Limited have just reported their ownership at the bank.
Specifically, each organisation currently owns 51.1 million ACB shares, equal to 4.97 percent of the chartered capital.
Reportedly, Sather Gate Investments Limited and Whistler Investments Limited are funds established in British Virgin Islands on March 9-10, 2017, owned by the mother company ALP Asian Finance (Vietnam).
Accordingly, ALP Asian Finance (Vietnam) is now indirectly holding 9.95 percent stake, becoming the shareholder having the highest ownership rate at ACB. Dragon Financial Holdings ranks the second with the ownership rate of 6.87 percent stake.
The date of implementing transaction that changed ownership rate and became the major shareholder was on May 7, 2018.
With the price at around 41,600 dong per share, it is estimated that the investment of ALP Asian Finance in ACB reaches nearly 4.252 trillion dong, equal to $186.5 million.
As of the end of March 2018, ACB’s total assets touched 299.8 trillion dong, up 5.5 percent from the beginning of the year, of which, loans to customers accounted for 70.6 percent of the total assets, reaching 211.6 trillion dong, growing 6.63 percent.
Deposits and loans to other credit organisations also swelled 78.3 percent, to 15.9 trillion dong.
Customers’ deposits as of the end of March were nearly 258.2 trillion dong, up seven percent from the beginning of the year. Deposits and loans to other credit organisations slightly decreased 8.3 percent to nearly 14.2 trillion dong.
At the end of Q1/2018, ACB recorded the pre-tax profit of 1.490 trillion dong, up 2.5 times from the same period last year.
On March 31, the bank had 1.477 trillion dong bad debt, up slightly 6.3 percent from the beginning of the year. The non-performing loan ratio of the bank still remained at 0.71 percent of the total outstanding loans.
In 2018, ACB targets that the total assets will grow 18 percent; customers’ deposits will hike 18 percent, credit will grow 15 percent, following the limit prescribed by the State Bank. The non-performing loan (NPL) ratio will be kept at less than two percent. The pre-tax profit of the group will hit about 5.699 trillion dong, up 2.14 times from the result achieved in 2017 (2.656 trillion dong).
Accordingly, with the result achieved in the first quarter, ACB completed 26.1 percent of the annual profit plan.
